“We believe many elements from Ford’s recent profit warning are applicable to GM’s outlook through 2015 and beyond,” Jonas wrote in a note to his clients, referencing Ford executives’ recent red flag about higher-than-expected warranty costs and lean times in Russia and South America. “At its investor day, GM understandably focused its attention on reestablishing cultural and strategic momentum. They didn’t warn, so we’re doing it for them.”

Jonas also added, “We really do believe in what we are writing on the future of autos without human drivers, without individual/private ownership and with entirely new players competing for the growth in 10 trillion miles traveled annually … The combination of vehicular autonomy and shared economy liberates the 23 hours and 8 minutes that cars are not used per day on average.”

Interestingly enough, Russia’s weak Ruble and the ignition recall controversy are not as strong a concern.

GM spokesman Jim Cain issued a statement saying, “We have a clear purpose, a good plan, we’re confident and we’re focused on execution.”

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